Overview
Passage is an accessible and customizable 3D world for video chat, presentations, collaboration, and e-commerce that is powered by blockchain in the Web3 metaverse.
- Passage is built with the Cosmos SDK, hosted via the the Akash Network decentralized cloud network.
- The Passage ecosystem includes the Passage worlds, the Strange Clan game, the Passage NFT Marketplace, and Passage DAO.
- PASG is its native token of the Passage blockchain.
Passage at a glance
Passage is a project that allows creators and builders to construct tailored, virtual worlds accessible and streamed through a browser. It aims to drive audiences and NFT-content via three ways: Virtual worlds, The Strange Clan Game, and the Passage NFT Marketplace.
Aside, the Passage blockchain development is a collaboration with VitWit targeting 100 validators at genesis and over 200 validator applications. The chain will initially support staking, vesting, and airdrop functionality on the Cosmos SDK. It aims to balance security and efficiency to enable high volume transactions with low fees.
Virtual Worlds
Passage will empower and bring marketing, community, and artist events as the first metaverse attempt to the Cosmos ecosystem. Individuals and organizations can create interconnected 3D worlds with impressive customizable features i.e. easy and intuitive access via desktop or mobile browsers (no apps or downloads), incredibly realistic graphics on any device, immersive spatial presence. One example is Blok Hous which is building on Passage and leveraging the marketplace to enable live NFT-auctions in a 3D world.
The Strange Clan Game
Users will be able to stream the game with the Passage technology and the Passage ecosystem is able to benefit from transactions related to the Strange Clan NFTs. Funds raised will be used to continue development of the Strange Clan world as a vital part of the Passage ecosystem.
Passage NFT Marketplace
The marketplace will be the first on Cosmos where users can purchase, sell, trade and transfer using ATOM as one of the main mediums of exchange. It will launch with 5,000 minted Strange Clan NFT characters and another 5,000 after with other game related NFTs. It also plans to enable open NFT minting similar to Ethereum’s OpenSea. Half of the 3% marketplace transaction fee will go back to stakers of the Passage token to incentivise validators.
Founded by Lex Avellino of the 3Division team, it has been under development for the past two years with mainnet launched in Q3 2022. It has a team of 14 highly skilled full time employees with enlisted contractors and partnering companies.
Passage, (PASG) token
The PASG token is the Passage blockchain’s native utility token with an 8% initial circulating supply of 168M tokens of 580M in total token genesis supply. Its primary uses are for:
- Streaming fees to allow users to stream and build worlds.
- Staking rewards at 50% for the first year.
- Incentives to stakers earned from half of the 3% marketplace fees and as marketplace discount to stakers.
- Exclusive access to content and whitelist spots for NFT mints.
- Governance for DAO/voting rights.
- Potential allocation rights to tokens related to new worlds for Passage stakers.
Proof-of-Stake (PoS) PASG staking
Validators such as ourselves at Stakewith.us (and builders behind Unagii) operate nodes responsible for securing the Passage blockchain’s operations and will earn staking rewards via distributed PASG tokens as incentives. Delegators (or users of Unagii) can help participate and secure the network with their votes by delegating their stakes to us on the Unagii platform to receive a portion of the rewards that validators receive.
Staking PASG allows users to participate in the decentralized governance with voting power, gain exclusive benefits, and earn PASG rewards. Rewards are paid out on a per block basis and users can choose to withdraw or compound accumulated rewards. It has a high inflationary reward policy of 50% with a 35% reduction each year until max supply is reached in the fifth year. From year 6, staking rewards will come purely from marketplace transaction fee rewards and similar structures within Passage.
Note that staking risks do apply, including slashing risks upon validator downtime and double-signing. There is also a 21 day unbonding period for users when unstaking PASG from the network. During this period, users will not be able to withdraw and earn rewards.
Related: Staking coins: What is staking and how does it work?
How to stake PASG?
Staking PASG on Unagii is simple and convenient.
- Head to app.unagii.com/stake/passage3d
- Connect your wallet
- Stake PASG
- Approve and confirm transaction (gas fee payable)
View more info: Stakewith.us validator details
